Finanta has launched its first credit union in Reading, Pa., opening a fully bilingual English- and Spanish-speaking branch that will serve as a financial center for its existing commercial lending operations while adding new consumer services and financial education programs.
The new Finanta Credit Union expanded on the mission of the 33-year-old nonprofit business loan fund, which is to advance economic opportunity in low-income communities by providing accessible financing and financial education to individuals, families and entrepreneurs.
"Finanta exists to provide fair, affordable financial services to people who have too often been left out of financial institutions," Daniel Betancourt, Finanta's CEO, said. "By pairing Finanta Credit Union services with financial education and one-on-one support, in both Spanish and English, we build real relationships with our members and design solutions that help families build wealth and strengthen their communities."
The Reading location followed Finanta's earlier credit union branch launches in Lancaster and Philadelphia. Finanta said it plans to develop financial products and services based on feedback from members in each community it serves.
The financial center will serve both existing loan fund clients and credit union members. In addition to free checking and savings accounts and low-cost loans, Finanta Credit Union plans to offer financial education workshops in Spanish and English on topics such as credit, budgeting and the process of buying a car or home.
The credit union said it also plans to partner with organizations serving the Reading community, including local nonprofit Tech Centro. It will also work with brands such as Félix, a platform that allows customers to send money to Latin America.
Finanta is a nonprofit Community Development Financial Institution that has provided financing to small businesses, nonprofits and community projects in low-income communities across the greater Philadelphia area, Delaware and New Jersey for more than 30 years. The organization launched Finanta Credit Union in 2022 to expand access to consumer financial services.
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